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  • Republic of Labour Law – Irish HR Updates (UPDATED )

    This week in the Republic of Labour Law, we look at the employment law winners and losers from 2020.
 In January, Brexit was the headline. In December, Brexit is the headline once more. There is a grim symmetry to this year’s news cycle which was largely filled with Covid.

  • Preparing the Pitch – Central Bank of Ireland Publishes Consultation and Q&A Updates for ILPs and Closed-Ended QIAIFs

    The Central Bank of Ireland (the “Central Bank”) has published two documents which are significant steps towards enhancing the private equity and private credit product offerings currently available in Ireland. These documents have been published in anticipation of the update to the Investment Limited Partnerships Act, which is currently making its way through the Irish parliamentary process.

  • Republic of Labour Law – Irish HR Updates (UPDATED)

    Welcome to our Halloween edition of Republic of Labour Law, a spooky newsletter in which we distil the most frightening Irish legal and HR updates from the last month in 500 words or less.

  • The Central Bank’s CP86 Day of Reckoning – What You Need To Know

    For many in the Funds Industry, the issue on 20 October 2020 of the Central Bank of Ireland’s (the “Central Bank”) Industry Letter (the “Industry Letter”) relating to the Central Bank’s Thematic Review of Fund Management Companies’ Governance, Management and Effectiveness (the “Thematic Review”) was a “Day of Reckoning” in relation to the Central Bank’s review of the operational model for many fund structures in Ireland.
 In this article, we look at the content of the Industry Letter and its impact on fund structures and fund managers in Ireland.
 Please see full Article below for more information.

  • Irish Data Commissioner Discusses Schrems II, Enforcement And Consent

    “I worry that we are caught in a DPA (Data Protection Authority) beauty contest of who issues the bigger fine,” said Ireland Data Protection Commissioner Helen Dixon in her keynote for Daniel Solove’s Privacy+Security Academy Fall Forum Keynote...

  • The EU-US Privacy Shield is Invalid: Facebook May Be Only the First Casualty

    News sources reported this month that the Irish data protection authority (DPA) had sent Facebook a preliminary order that would prohibit the transfer of information about European Union (EU) residents to US Facebook users. Facebook will appeal the order. This may be only the beginning of a cascade of orders that threaten to interrupt social media and other forms of internet-based commerce between Europe and the US. How did this happen?

  • Central Bank of Ireland’s Year-End Approval and Amendment Timeframes for Investment Funds

    On 28 September 2020, the Central Bank of Ireland (the “Central Bank”) sent a letter to the Irish funds industry outlining the timeframes for receipt of: (i) new fund applications; and (ii) post-authorisation amendments that have approval deadlines before Christmas or year-end (the “Year-End Letter”).

  • AML Update: New ICAV and Unit Trust Central Register of Beneficial Ownership Obligations in Ireland

    This OnPoint provides an overview of the long-awaited central register of beneficial ownership filing requirements for both ICAVs and Unit Trusts in Ireland together with an update on the specific issues related to maintenance of a beneficial ownership register for Unit Trusts.

  • Biosimilar Buyouts: AbbVie Buyout of Allergan Receives Approval of Irish High Court; Gedeon Richter Buys Tocilizumab Biosimilar

    On May 8, 2020, AbbVie announced that it completed its acquisition of Allergan plc, having received approval by the Irish High Court. AbbVie and Allergan had previously announced, on May 5, 2020, that the U.S. Federal Trade Commission accepted the proposed consent order in connection with the acquisition.

  • Guidelines on performance fees in UCITS and certain types of AIFs

    ESMA published on 3 April 2020, its Final Report, ‘Guidelines on performance fees in UCITS and certain types of AIFs’ (the “Guidelines”). The Guidelines are the culmination of a consultation process started by ESMA in July 2019 (the “Consultation”) which sought stakeholder feedback on a range of issues relating to the use of performance fees by fund managers.

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